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Syndicate Bank to popularise net banking

Special Correspondent
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Anjaneya Prasad
Anjaneya Prasad

Syndicate Bank will launch a campaign to sensitise its personnel and customers on internet banking.

The facility along with mobile banking being launched in 11 cities in the country will be available in Visakhapatnam in three to four months, the bank’s Executive Director M. Anjaneya Prasad told reporters here on Thursday. He said the new age facilities were quite popular among youngsters and they were now sensitising the bank personnel and others for widening its reach.

The bank has already launched mobile application in Android 2, 3 and above, I-phone 4 and above and windows phone 7.5 and above. Solution for new initiative of National Payment Corporation of India (NCPI) for mobile payments through unstructured supplementary support data (USSD) payment gateway has been launched.

Mr. Prasad said that the bank had implemented the RSA SecurlD feature, wherein the customer’s transaction password would be dynamic in nature, to prevent internet banking frauds like phishing. He said at e-launch facilities launched at select ATMs, the customers would also get a scanned copy of cheques deposited by them as an acknowledgment.

He said the bank management was actively considering opening regional offices in Visakhapatnam and Nellore.The bank opened 215 branches during 2012-13. It is planning to open 250 to 300 during current fiscal with focus on coastal Andhra area.

Mr. Prasad said the bank crossed a business of Rs.3,34,779 crore and earned a net profit of Rs.2,004 crore against Rs.1,313 crore during the previous year.


  • The bank’s management is considering opening regional offices in Visakhapatnam and Nellore, says ED

  • ‘The bank opened 215 branches during 2012-13 and is planning to open 250-300 in current fiscal’



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